Senate Pitches Rival Stimulus Package

The Senate has unveiled its own economic stimulus package, challenging the plan agreed to between House leaders and the White House. The Senate plan would give $500 to almost all Americans, rich and poor, and would extend unemployment benefits to the jobless, reports the Washington Post. Senators are also likely to add heating cost assistance, foreclosure-prevention funding, business tax incentives, and other benefits.

"Rebates for seniors and payroll taxpayers, and tax relief for struggling businesses will put more cash into the economy right away," said Finance Committee chairman Max Baucus. President Bush warned in his State of the Union speech that loading up the economic stimulus package "would delay it or derail it, and neither option is acceptable." (More US economy stories.)